Saudi Arabia’s events industry eyes $17.6 bn milestone

bic event

According to a research report by AMR, the Saudi Arabia events industry is projected to reach $17.6 billion by 2031, registering a CAGR of 8.7 per cent from 2022 to 2031. “Sports events can act as a potential catalyst for economic development in Saudi Arabia. The Saudi government has committed to making large investments in sports, including US $2 billion by 2023, US $670 million to fund private sector sports clubs, and US $320 million in club sponsorships. The rising government support to the sports sector in the country is expected to drive the growth of the overall economy and events industry during the forecast period,” the report stated.